16 Mar 2022 07:00
16 March 2022
Pires Investments plc
("Pires" or the "Company")
First Investment of the Sure Valley Ventures UK Software Technology Fund
Pires Investments plc (AIM: PIRI), the investment company focused on next generation technology, is pleased to provide an update on its investment in the Sure Valley Ventures UK Software Technology Fund (the "SVV Software Fund").
Further to the Company's announcement on 2 March 2022, RETìníZE Limited ("RETìníZE"), the award-winning creative-tech company based in Belfast, Northern Ireland, has successfully raised £2 million in a seed round led by the SVV Software Fund.
RETìníZE is developing an innovative software product called Animotive that is harnessing the latest VR technologies to transform the 3D animation production process. The proceeds of the seed round will drive the next two-year step in its growth and the global rollout of Animotive.
The seed round, led by the SVV Software Fund's £1 million investment, marks the first investment from this fund which recently announced its first close of £85 million, which included a cornerstone £50 million investment from the British Business Bank, an investment arm of the UK Government.
Other investors in the round, from the UK, USA, Ireland and the Netherlands, include:
· TechStart Ventures - leading investor of seed capital across Scotland and Northern Ireland, following on from their 2019 pre-seed investment in RETìníZE
· VGC Partners - London based investor building great companies at the intersection of physical and digital commerce
· Clarendon/Co-fund NI - equity fund based in Northern Ireland that co-invest with business angels and private investors
· Lonely Horse Investments - investor association based in the Netherlands
· Bertram van Munster & Elise Doganieri - multi Emmy award-winning producers behind the CBS hit show "the Amazing Race"
· Ben Morrow - Senior Product Manager, Adobe Aero (Adobe's AR creation tool)
The SVV Software Fund is a newly-established venture capital fund, investing in a range of private UK software companies with a focus on companies in the Metaverse, Artificial Intelligence and Cybersecurity sectors. The fund is run by the same SVV team which has been highly successful in achieving a number of cash realisations from, and upward revaluations of, companies in the SVV portfolio.
Nicholas Lee, Director of Pires commented:
"We are delighted to note the first investment of the new SVV Software Fund, supporting one of Europe's fast-growing creative-tech companies, RETìníZE, in its £2 million seed round. This funding, which includes £1 million from the new fund and a further £1 million from a number of highly-regarded co-investors, will allow RETìníZE to expand its global rollout of Animotive in the immersive software sector, which is well positioned to grow rapidly."
Enquiries:
Pires Investments plc Nicholas Lee, Director
| Tel: +44 (0) 20 3368 8961
|
Joint Broker Peterhouse Capital Limited Duncan Vasey/Lucy Williams
| Tel: +44 (0) 20 7469 0935 Tel: +44 (0) 20 7469 0936 |
Joint Broker Tennyson Securities Peter Krens
| Tel: +44 (0) 20 3167 7221 |
Financial media and PR Yellow Jersey Sarah Hollins Henry Wilkinson Annabelle Wills | Tel: +44 (0) 20 3004 9512
|
Notes to Editors
About Pires Investments plc
Pires Investments plc (AIM: PIRI) is an investment company providing investors with access to a portfolio of next generation technology businesses with significant growth potential.
The Company is building an investment portfolio of high-tech businesses across areas such as Artificial Intelligence, Internet of Things, Cyber Security, Machine Learning, Immersive Technologies and Big Data, which the Board believes demonstrate evidence of traction and the potential for exponential growth, due to increasing global demand for development in these sectors.
For further information, visit: https://piresinvestments.com/
About the SVV UK Software Technology Fund
The Sure Valley Ventures ("SVV") UK Software Technology Fund is a venture capital fund investing in a range of private UK software companies with a focus on companies in the Metaverse, Artificial Intelligence and Cybersecurity sectors. The fund is run by the same SVV team which, to date, has been highly successful in achieving a number of cash realisations from, and upward revaluations of, companies in the SVV portfolio.
Caution regarding forward looking statements
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